Nakheel awards Deira Islands marina contract

DUBAI, October 12, 2017

Master developer Nakheel has awarded a Dh165-million ($44 million) contract to the UAE-based APCC Piling and Contracting for the construction of six marinas in Deira Islands that can accommodate 614 boats and 60-m-long yachts.

The construction will begin in the fourth quarter of 2017, with phased delivery over two years, said a statement from the company.

With the awarding of this contract, Nakheel's total investment in the infrastructure and construction work at Deira Islands has risen to more than Dh7.5 billion ($2.04 billion)

In August, Nakheel had confirmed new deals worth Dh430 million for Deira Islands, and in April announced a contract for Dh4.2 billion to build Deira Mall, located at the heart of the development.

Speaking at the signing ceremony, Nakheel chairman Ali Rashid Lootah said: "We are investing billions of dirhams to deliver Deira Islands and transform Dubai’s Deira district into a world-class hub for tourism, retail, leisure and entertainment."

“Our new coastal city, being developed in line with the Government of Dubai’s vision for 2021, paves the way for hundreds of hotels, residences and attractions, many of which we are developing ourselves under our business diversification strategy,” he noted.

Deira Islands, which will have a population of 250,000 and create 80,000 jobs, will add 40 km, including 21 km of beach, to Dubai’s coastline.

Nakheel, one of the world’s leading developers, continues to deliver innovative landmark projects in Dubai across the residential, retail, hospitality and leisure sectors.

The master developer has more than 24,000 residential units under construction or in the pipeline.-TradeArabia News Service